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2016 Annual Meeting
The 2016 OTCC Annual Meeting was held on Sunday, May 1 at 7:00 p.m., at the Lake Pine Club House on Taunton Boulevard. One or more residents from 39 households attended.
Dam Committee chairman Steve Lennon reported the major work on the dam restoration was completed in December. Some additional work remains to be completed on the spillway once the weather is warm enough. Treasurer Jerry Klein reported that $301,000 of the $324,000 contract price has been billed and paid so far. Another $84,000 in engineering and legal fees has been incurred over the past ten years; all but $18,000 has been paid. To date, OTCC has drawn down $378,000 from the long-term, low interest loan the Club received to pay for the restoration. Also over the past ten years, the club has collected about $260,000 from member dues, earmarked for repayment of the loan. That's about 69% of the amount that will be needed to repay just the principal of the loan, not counting interest. Once final figures are in, the trustees will be examining options to accellerate repayment of the loan to reduce the amount of interest that would be due if we stretched out the payments over the 20-year term of the loan.
Here are the handouts given out at the meeting.
Voting for Trustees
Three incumbent trustees were nominated for re-election. No one was nominated from the floor. Those re-elected are: